MIRA INFORM REPORT

 

 

Report Date :

04.05.2013

 

IDENTIFICATION DETAILS

 

Name :

SODRAF SARL

 

 

Registered Office :

BP 2151 Bamako

 

 

Country :

Mali

 

 

Date of Incorporation :

06.06.1991

 

 

Com. Reg. No.:

SD-1846 Bamako, Mali

 

 

Legal Form :

Societe Anonyme Responsabilite Limitee.

 

 

Line of Business :

Importers and distribution of general merchandise

 

 

No. of Employees :

40

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Mali

C2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

Mali - ECONOMIC OVERVIEW

 

Among the 25 poorest countries in the world, Mali is a landlocked country highly dependent on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest. Mali remains dependent on foreign aid. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government in 2011 completed an IMF extended credit facility program that has helped the economy grow, diversify, and attract foreign investment. Mali is developing its cotton and iron ore extraction industries to diversify foreign exchange revenue away from gold. Mali has invested in tourism but security issues are hurting the industry. Mali experienced economic growth of about 5% per year between 1996-2010.

 

Source : CIA

 

 

 REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

SODRAF SARL

Other Names:

SOCIETE DRAMERA ET FRERES SARL

Principal Address:

BP 2151 Bamako, Mali

Telephone:

+223-20-222034

Fax:

+223-20-225130

Email:

info@sodraf.com.ml

Internet:

www.sodraf.com.ml

 

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

President/ CEO (1)

Name

Mr. Sekou Dramera

Active in daily business:

Active

Current Title:

Chief Executive officer

Country of residence

Mali

Remarks

Top Decision Maker

Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.

 

 

NEGATIVE INFORMATION

 

No negative information found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital

Nominal Capital

CFA. 3,500,000

Paid in Capital

CFA. 3,500,000

Subscribed Capital

CFA. 3,500,000

Shareholders

Name

Position

   Amount  

       Ratio

Mr. Sekou Dramera

CEO

 

 

Mr. Aly Moussa Traore

Manager

 

 

Total

 

 

100.00%

 

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

30% in cash, 70% on credit

Selling terms

80% in cash, 20% on credit

 

 

Suppliers

Various Companies

Customers

Outlets, Stores and Public

 

 

Recent Sales

CFA. 855,000,000  (2012 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

40.0%

Domestic Market Share

10.0%

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

 

FINANCIAL INFORMATION

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = CFA. 499.81

ADDITIONAL INFORMATION

Established:

6/6/1991

Registration:

SD-1846 Bamako, Mali

Legal Form:

Societe Anonyme Responsabilite Limitee.

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

40

 

 

 

Office & Factories

Head offices

Rue du 18 Juin – Immeuble Boubou Niangadou Bamako, Mail, Dhana

Branches

None

 

Business Activities

Importers and distribution of general merchandise

 

Business Premises

2000 Sft

Type of occupation                                              

Rented

Location 

The subject is located close to a major road network                      

Premises used as                                                

Offices, Warehouse, Workshop

 

Banking relationship

Main Banks

BIM SA, Boulevard De L Independence Bp 15, Bamako, Mali

 

BCEAO Bank

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.95

UK Pound

1

Rs.83.80

Euro

1

Rs.70.49

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.